Smart Electric Meter Market to Grow with IoT and Smart Grid

Posted on 2018-11-01 by Goldstein Research in Industrial // 0 Comments

New York, USA, 2018-Nov-01 — /EPR Network/ —According to Goldstein Research, global smart electric meter market is expected to reach USD 15.12 billion by 2024, growing at a CAGR of 9.7% over the forecast period 2016-2024. The development of a smart grid across the globe is driving the demand for a smart electric meter for the effective networking, transmission, and distribution of power. Global smart electric meter market segmentation has been done on the basis of communication technology, phase, application, and geography. Residential installation of smart meters accounted for the largest market share of 80.2% and commercial smart meter installation accounted for 16.0% market share.

Global smart electric meter market is largely dominated by North America on account of huge growth in smart grid networking projects and also it accounted for 78.5% households having smart meters installed, being the largest in the world. APAC region tends to be an opportunistic market, expected to grow at the highest CAGR over the forecast period on the back of rising smart grid projects and government investments mainly in Japan, Singapore, India, South Korea, and Australia. Smart grid market holds the xx% of market share of electric smart grid market globaly.

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Market Segmentation

On the basis of our in-depth analysis, Global Smart Electric Meter Market can be segmented as follows:

By Communication Technology

Radio Frequency
Power Line Communication (PLC)
Cellular

By Phase

Single Phase
Three Phase

By Application

Industrial
Commercial
Residential

By Region

North America Smart Electric Meter Market Analysis, 2016-2024
Europe Smart Electric Meter Market Analysis, 2016-2024
The Middle East And Africa Smart Electric Meter Market Analysis, 2016-2024
Latin America Smart Electric Meter Market Analysis, 2016-2024
Asia Pacific Smart Electric Meter Market Analysis, 2016-2024
Rest Of The World Smart Electric Meter Market Analysis, 2016-2024

“Global Smart Electric Meter Market Outlook 2024” contains a detailed overview of the global smart electric meter market. On the basis of our in-depth analysis, the market can be segmented in terms of market segmentation by communication technology, phase, application, and geography.

On the basis of type, smart electric meters market hold the market share of 40% of global smart meter market in 2016 while smart gas meter is estimated to attain the highest CAGR of 8.5% over the forecast years owing to rising adoption of smart grid setups.

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The Global Smart Electric Meter Market Report highlights the competitive outlook of major global players that includes the business strategies, product portfolio, revenue distribution, financial analysis, R&D activities, and investments. The in-depth analysis of smart electric meter market report will help the clients to assess their business strategies as per the competitive environment in the market space.

In the coming years, the smart electric meter market will be rising and the demand for electric is expected to get doubled and thus, the demand for Electric T&D equipment will also increase which will boost the Electric T&D Equipment Market.

Major players of the global smart electric meter market discussed in the report are Itron, Elster group, General Electric, Schneider Electric, Landis+Gyr, Silver Spring Networks, Echelon Corporation, Holley Tech, Microsemi Corporation, Eliq, Trilliant, Kamstrup, E.ON Energy, Eclara, Lin Yang Energy, etc.

Further, Global Smart Electric Meter Market Report encompasses the major trends & growth opportunities, market dynamics, and other growth factors. The Smart Electric Meter Market outlook also comprises of key challenges for the market players, risk analysis, SWOT Analysis, USP Analysis, BPS analysis, and Market Attractiveness. The report also includes the expert analysis which provides a complete overview of the market post analysis of the economic, political, environmental & social factors of each region and country.

Smart Electric Meter Market is driving on the basis of advancement in branches of hardware and ict mention below

Smart Grid Networking Market

Creating smart cities, electric vehicles and other developments require not only continuous supply of electricity but also collecting data about utility usages across the city/country and supplying it efficiently. Analyst forecasts the smart grid networking market size is set to reach USD 16.4 billion by 2024, registering a CAGR of 9.8% over the forecast period.

Smart Grid Transmission Equipment Market

Creating smart cities, electric vehicles and other developments require continuous transmission of power operations and through a reliable and smarter transmission and distribution (T&D) equipment system. Analyst forecasts the smart grid transmission equipment market size is set to reach USD 4.5 trillion by 2024, registering a CAGR of 17.5% over the forecast period.

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